AIR TRANSPORT SERVICES GROUP RESULTS

Air Transport Services Group (ATSG) has reported improved third quarter financial results after excluding non-cash impairment charges. Pre-tax losses from continuing operations were $6.7 million while net losses from continuing operations totalled $4.8 million, or $0.08 per share diluted. Third-quarter 2011 earnings included $27.1 million in impairment charges related to reductions in business with DB Schenker that began in September, and $1.9 million in unrealized losses on derivative instruments related to the company’s new credit facilities adopted in May. Excluding impairment and derivative charges, pre-tax and net earnings from continuing operations increased by 34 percent and 22 percent, respectively, versus